MVP = Market Validated Prototype

Working with over 500 product managers and product owners at MASSIVUE, we’ve seen a lot of confusion around what an MVP (Minimum Viable Product) really means. So, we wanted to share our take on it here.

As an entrepreneur or product manager, it’s important to understand the concept of Minimum Viable Product (MVP). While there are many different definitions out there, I believe that the best way to describe MVP is as a Market Validated Prototype.

At its core, an MVP is a market validated prototype. It’s a product that has just enough features to satisfy early customers and gather feedback for future iterations. The emphasis is on the word “validated” because it’s important to remember that an MVP is not just a random collection of features or a rough sketch of a product idea. It’s a prototype that’s been designed with specific goals in mind and tested with real users to see if it meets their needs.

The goal of an MVP is not to launch a full-fledged product, but to test the assumptions that underpin your product idea. By putting your prototype in the hands of real users, you can see if your idea resonates with them and if there’s enough demand for it in the market. An MVP is essentially the bare minimum version of your product that you can release to the market in order to test and validate your assumptions. It’s not meant to be perfect, and it’s not meant to have all the bells and whistles of a fully-fledged product. Instead, it’s meant to be a simple, stripped-down version that allows you to test your…